Wonga drive-in a going concern

Gary King at his beloved Wonga Drive In.
Gary King at his beloved Wonga Drive In. Craig Warhurst

WONGA Drive-in owner Gary King is hopeful the dream business he built up and very nearly had paid off will be sold as a going concern.

Mr King spoke to The Gympie Times yesterday and confirmed he had declared bankruptcy but emphasised it had nothing to do with the performance of the drive-in.

“I had no choice … it certainly wasn’t the performance of the drive-in, it was performing quite well,” Mr King said.

He said it was the debt owed on the Sovereign Cinema that had been the final straw.

“The Sovereign Cinema debt killed us… that wasn’t all the problems – the low attendance and then the bank wouldn’t help us in any way.

“We spent over $300,000 renovating the cinema and the bank sold off the assets for $50,000.”

Despite figures showing an upward trend initially, the cinema was hit hard by the brunt of last year’s recession.

“Unfortunately the recession happened when we finished the renovation … the budget did blow out (but) no-one had spent anything on the cinema in 17 years.”

He said the attitude of the bank was completely unhelpful to him trading his way through.

“I tried to do the right thing by Gympie but it didn’t go my way.”

The drive-in continued to prove popular but he said that in the end it was subsidising the cinema.

“I desperately didn’t want to have the drive in closed … once I declared bankruptcy it was in the hands of the bank.”

Mr King said he appreciated the support the Wonga Drive-in received from patrons.

“People were really supporting the drive-in and it was helping us. Now I’ve lost everything.”

He said someone was looking at buying the drive-in as a going concern.

“There is one person who is interested in it. I’m hoping it will be sold as a going concern. Everything is there to start operating it again.”

Gympie Times

Hartwig questions need for sewerage restructure

Councillor Glen Hartwig.

Letter to the editor: Gympie Cr Glen Hartwig raises more concerns

Plenty of feud for Bruce's family

TV BECKONS: Miss9 discovers the joys of comparing Family Feud in the Devereaux household.

Bruce shares his hilarious tales of life with a big family

That was a crazy week

Women writing on paper with a pen on a white background.

Colin shares his views on the week that was.

Local Partners

Leonardo DiCaprio nearly drowned while filming

Actor Leonardo DiCaprio

Oscar winner almost drowned in Galapagos

Miranda Kerr to wed next year

Supermodel Miranda Kerr

Supermodel and Snapchat founder to wed

What's on the small screen this week

Georgia Love pictured in a scene from The Bachelorette finale.

TWO big reality shows wrap up this week while

Hoo8Hoo hitting all the right notes

PERFECT HARMONY: Brothers Tim (left) and Sam Aitken, aka Hoo8Hoo, will be hitting the Gympie stage on Sunday afternoon for the Rush Festival concert.

Brothers Tim and Sam Aitken will be taking to the stage as Hoo8Hoo.

Brad Pitt won't file legal response to divorce petition

Brad reportedly refused to send off the paperwork

Azealia Banks won't take legal action against Russell Crowe

Rapper Azealia Banks

Rapper drops legal action against Russell Crowe

Hit songwriter's Noosa mansion on market

SPECIAL PLACE: The Cintamani estate is going to tender, marketed by Tom Offermann Real Estate.

Is this Queensland's best property?

Kiwi siblings snap up Dotcom mansion for $32.5m

The new toy company owners of the Coatesville mansion want replace any controversy with positivity and fun. Photo / Barfoot and Thompson

The trio paid $32.5 million for the property in June

New $200 million development will create 580 jobs

Cassie And Josh with baby Alfie and daughter Andee. They have bought at new Lennox Head development Epiq.

Majority of new positions will be given to Northern Rivers locals

Cherrabah's mega resort plans axed

PLANS for a massive development at Cherrabah have been scrapped.

What our mayor thinks of the new draft SEQPlan

The plan to use the innovative technology as part of the new Maroochydore CBD was cemented on site today when Mayor Mark Jamieson and Envac Asia Region president Chun Yong Ha formally signed the contract for the $20 million underground waste collection system.

New plan accommodates Sunshine Coast Council's vision for growth.

Dusit Thani finance crisis 'just a small hiccup'

ON TRACK: Springfield Land Chairman, Maha Sinnathamby, Ipswich Mayor Paul Pisasale, Developer Richard Turner and Springfield Land Deputy Chairman, Bob Sharpless, at the recent resort sod turning ceremony.

Property developer says project remains firmly on track